Requires disclosure of third-party litigation funding agreements and establishes certain responsibilities for litigation funders.
What changed between versions
The bill designation changed from 'S2357 TR' to 'S2357' and the status line changed from 'As reported by the Senate Commerce Committee with technical review' to 'Introduced Pending Technical Review by Legislative Counsel,' reflecting the procedural stage of the bill.
A STATEMENT section was added at the end of the bill providing a legislative summary of the bill's provisions, including disclosure requirements for litigation funding agreements, fiduciary duties imposed on funders, prohibited funder conduct (such as influencing case decisions, exceeding 25 percent of proceeds, or securitizing agreements), and an exemption for pre-settlement funding used solely for living expenses. This is a summary of existing provisions, not new policy.
In the definition of 'civil action,' the word 'means' was removed, changing the phrasing from a full sentence to a fragment. This is a minor grammatical/technical correction with no substantive policy impact.